This paper is the first attempt to assess the impact of official FOREX interventions of the three major central banks in terms of the dynamics of the currency components of the major exchange rates (EUR/USD and YEN/USD) over the period 1989-2003. We identify the currency components of the mean...

The rules laid down in Article 32 of the Protocol No. 18 on the Statute of the European System of Central Banks and of the European Central Bank of the Maastricht Treaty will significantly redistribute European seignorage income and hence the implicit entitlement to the 352 billion stock of...

Over the past year, the proportion of women serving on the executive and supervisory boards of the top 100 largest banks in Germany rose slightly to almost nine and 23 percent, respectively. However, growth has come to a halt in the 60 largest insurance companies: on both executive and...

The proportion of women on executive boards of the 100 largest banks stagnated at almost nine percent in 2018. In the 60 largest insurance companies, the proportion increased by a good percentage point to almost ten percent. While growth on executive boards has been weakening in past years, it...

This study inspects if there is greater convergence with Germany amongst the Eurozone founding members and if their relations with the hegemonic economy have been more symmetrical after "euroization". The dimensions explored are those inspired by the optimum currency areas (OCA) framework. To...

We estimate a three-region (DE-REA-RoW) structural macroeconomic model, and we provide a counterfactual on how nominal exchange rate flexibility would have affected the German trade balance (TB) by simulating the shocks of the estimated model under a counterfactual flexible exchange rate regime....